any remake of shadow of the beast would have to start from scratch gameplay wise.
Personally i think the best thing about SOTB was the ambience and style. The whole psygnosis / roger dean thing was a big influence on the amiga scene and games of the time. Dave Whittakers music in the original was also important in setting the mood, and i still think the original sotb was some of his best work.
I've thought for a while that a 3d action rpg in the mold of the zelda games would make for a good shadow of the beast game. One obvious path is to do something along the lines of fable, where you can pick an evil or good path, with you becoming more like the beast or more human based on your choices.
visually the game should look like walking around inside a psygnosis box cover.
Presumably SCEE still has the rights to it all, as well as all the other psygnosis properties. It would make a nice PS3 title